Note: ONEX CORPORATION' official website: https://onex-corporation.com/ is currently inaccessible normally.
ONEX CORPORATION is a forex broker based in Saint Vincent and the Grenadines. It offers a web-based platform with many types of accounts. However, it is not regulated and their website is not available.
Pros and Cons
Is ONEX CORPORATION Legit?
ONEX CORPORATION is not regulated by any institution. Besides, it is located in a well-known scam hotspot. It is registered in St. Vincent and the Grenadines, which does not regulate its Forex markets. This lack of oversight allows fraudsters to operate freely in this region.
Account Type/Leverage/Spread
ONEX CORPORATION offers VIP, PREMIUM, PRO TRADER, TRADER, STANDARD and EASY START accounts with the minimum deposits of $250,000, $50,000, $25,000, $10,000, $3000 and $250. Compared with other regular brokers, their minimum deposit requirements are rather higher, which is not suitable for beginners who are not familiar with the trading condition. It has a spread of 3 pips and a leverage of 1:100. This level is twice as high as usual for the industry and is very unprofitable for the trader.
Trading Platform
ONEX CORPORATION only offered a web-based platform. Although this platform offers the fundamental features necessary for placing orders, it falls short when compared to the capabilities offered by MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
Deposit and Withdrawal
ONEX CORPORATION accepts credit cards, cryptos and bank transfer. It states that there are no fees for credit card withdrawals, but it does not clarify the terms regarding cryptocurrency transactions.
Customer Service
ONEX CORPORATION only supports phone to contact.
The Bottom Line
All in all, trading with ONEX CORPORATION is not a wise choice. First, it is not regulated and its website is not accessible. Second, their spreads are so wide that traders can lose a lot in uncertain trading conditions.
FAQs
Is ONEX CORPORATION safe?
No. It is not regulated and their website is not available.
Is ONEX CORPORATION a good for beginners?
No. Their minimum deposit sits at $250, which is too much.
Is ONEX CORPORATION good for day trading?
No.
